Source: WrestlingINC

As noted, it’s crunch time for TNA this week as the company needs to fund this Sunday’s TNA Bound for Glory pay-per-view and their next set of television tapings in Orlando, Florida. For what it’s worth, Dixie Carter tweeted this evening that she will be “sharing news soon.”

Carter is still majority owner of the company and will make the final decision on who buys it. Both Billy Corgan and Aroluxe, who each own a piece of TNA, have been negotiating to purchase a majority interest in the company and some sort of decision will need to be made by Friday in order to pay for the production of Sunday’s pay-per-view.

Source: WrestlingINC

As noted, it’s crunch time for TNA this week as the company needs to fund this Sunday’s TNA Bound for Glory pay-per-view and their next set of television tapings in Orlando, Florida.

Dave Meltzer reported in the latest issue of Wrestling Observer Newsletter that Dixie Carter, who is still majority owner of the company with 70% of the stock, is being blamed for making the sale a mess.

“There are a lot of hurdles and games being played,” someone with knowledge of the sale talks told Meltzer. “She (Dixie Carter) has really made a mess and is responsible for all of it.”

Carter will be making the decision on who gets the company. Carter doesn’t have the money to afford this weeks shows, which would cost around $600,000, and needs someone who can fund it. Another person close to the situation told Meltzer that they thought Aroluxe had control of the company last week, and then thought Corgan had it this past Saturday.

“Now I know the same BS is still going back-and-forth,” they told Meltzer. “She is something else. I’ve never met someone so clueless. She is out of touch on all levels. Both sides want her out. There is no doubt there. It’s the only thing they can agree on.”

It was noted that WWE was back in the picture at the start of the week because of TNA executive John Gaburick, who was with WWE until 2013, but was back out. TNA also has millions of dollars of debt, much of which is to Aroluxe and Corgan, but there are other creditors. Fite TV reportedly also has a stake in the company. If WWE were to purchase the company, they wouldn’t assume the debt and it would be the end of the company, as they would just be purchasing the tape library and taking some talent.

Meltzer noted that a deal pretty much has to be made by this Friday, otherwise there will be no Bound For Glory pay-per-view on Sunday and television tapings next week, which would put TNA in breach of their television and pay-per-view contracts. That doesn’t “guarantee death,” but television partners could use it to cancel the show.

As noted, Corgan appeared on Busted Open yesterday to discuss the uncertainty regarding the future of TNA and said that there are a lot of people at the table looking at the company.

“It’s reached a point where it’s going to have a transformational moment,” Corgan said. “Whatever’s going to happen this week or this weekend or whatever, is going to for sure – and this is not a wrestling angle – it is definitely going to change the direction of the company forever. Does that mean the company ends, does that mean the company begins a new era? Obviously I am very much on the side and very much invested that the company would continue.”

Corgan said that he had to step in at the “literally the last minute” for the last three rounds of tapings, so he’s used to being in this situation. He said that ultimately it’s not up to him, but he’s done everything he can to create a scenario to go forward. He said that he’s been the financer, and that he has no investors, so he’s committed and charging forward on his own initiative.

“Having been through this the last three rounds, I still remain very optimistic that come Sunday I will be standing in the ring putting over what’s about to happen,” Corgan said. “I will be in Orlando come rain or shine. I can’t speak for everybody else at this particular moment, but I will be in Orlando this Sunday.”